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Report: Access Bank seeks to raise 15B naira in green bonds in Q1

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Report: Access Bank seeks to raise 15B naira in green bonds in Q1

Access Bank PLC is looking to raise about 15 billion Nigerian naira in green bonds in the first quarter of 2019, Bloomberg News reported, citing a person with knowledge of the matter.

The potential issuance will be Nigeria's first corporate green bond to fund environmental and climate-related projects, Bloomberg noted.

Nigeria's debt management agency said the country, which issued its first green bond worth 10.7 billion naira in 2017, plans to sell as much as 150 billion naira of such bonds by 2021, according to the report.

As of Jan. 17, US$1 was equivalent to 363.75 Nigerian naira.